Key Factors (Key Business Factors)

Definition:

Key Factors are significant attributes of an organization that influence the way the organization operates. Examiners will use key factors to focus their assessment on what is important to the applicant.

Customers:

Examiners use key factors to

·     provide more accurate and meaningful feedback to the applicant

·     understand the Criteria areas of greatest importance to the applicant

·     begin to understand the key points to investigate during the consensus and site visit stages of the Award process

Judges use key factors to

·     quickly acquaint themselves with the applicant

·     focus on what is most important

Examples:

·     Mission, vision, and values

·     Employee/staff profile

·     Customer and market segments and customer requirements

·     Competitive position and critical success factors

·     Strategic challenges

·     Governance structure

These are all key factors because they are facts or attributes that affect the way the organization operates.

Non-Examples:

·     Performance improvement process

·     Strategic planning approach

These are not key factors, rather they are processes that the applicant uses in managing its work.

See also:

How to Identify Key Factors (Instructions)

Key Factors Worksheet